Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Why should pricing objectives be explicitly stated?
A. They have a direct effect on pricing policies and the methods used to set the price.
B. It provides direction for company-level objectives.
C. Explicitly stating objectives provides legal protection for the firm.
D. Most state laws require explicitly stating legal objectives.
E. Firms should always choose profit-oriented pricing objectives.
Answer:
"MRO items" are:
A. supplies.
B. natural products.
C. modified rebuy orders.
D. accessory equipment.
E. component parts and materials.
Answer:
Tammi Soloft has itchy eyes and a stuffy nose, and suddenly becomes aware of many
TV ads for allergy products that she never noticed before. This illustrates:
A. selective exposure.
B. selective perception.
C. selective retention.
D. reinforced cognition.
E. None of these alternatives is correct.
Answer:
In customer-initiated interactive communication:
A. the message channel has no impact.
B. noise is no longer a factor.
C. the source initiates the communication.
D. interactive technology plays a big role.
E. action is less immediate.
Answer:
The "Fashion Place" carries a carefully selected and distinctive assortment of traditional
women's business clothing and accessories for upper-class executives in Boston. It
emphasizes customer service with its well-trained salesclerks. The store is probably a:
A. small department store.
B. specialty shop.
C. convenience store.
D. single-line store.
E. limited-line store.
Answer:
Which of the following is one of the three basic ideas in the "marketing concept?"
A. Resource efficiency.
B. Total company effort.
C. Obtain economies of scale.
D. Maximize sales.
E. The president has a marketing background.
Answer:
Data which have already been collected in a previous study are called __________ data,
while data that are generated by a phone survey this month of key customers are called
_______ data.
A. primary; secondary
B. primary; intranet
C. secondary; primary
D. secondary; experimental
E. intranet; sample
Answer:
A sales representative calls on a prospective business customer only to find that the
customer has an established relationship with another supplier that seems to be working
well. The customer is not interested in considering other suppliers. The customer is
currently in a ____________________ situation.
A. straight rebuy
B. modified rebuy
C. new-task
D. extensive problem-solving
E. limited problem-solving
Answer:
A detailed customer database, containing past purchases and other segmenting
information, is used to focus marketing efforts on individual customers in a:
A. Clustering management system.
B. Product positioning matrix.
C. Product differentiation matrix.
D. Diversification management system.
E. Customer relationship management system.
Answer:
The first step in market segmentation should be:
A. deciding what new product you could develop.
B. evaluating what segment(s) you currently serve.
C. finding a demographic group likely to use your products.
D. listing features of your current products.
E. defining some broad product-markets where you may be able to operate profitably.
Answer:
The number and types of competitors a marketing manager must face-and how they
might behave-is called the ______________ environment.
A. cultural
B. competitive
C. economic
D. political
E. social
Answer:
In nonprofit organizations, the marketing concept
A. is not relevant.
B. has different measures of success.
C. is usually easy to adopt because of how nonprofits organize for marketing.
D. can be implemented by ignoring customer needs.
Answer:
A virtual trade show in the farm equipment industry would most likely be targeted to
which of the following?
A. Industrial customers whose revenue exceeds $1 million in sales each year
B. Industrial customers who are transitioning from one industry segment to another
C. Industrial customers who lack the resources to attend in-person trade shows
D. Individual customers who prefer to meet with reps in person than online
E. Individual customers who compete to be admitted to attend lectures and exhibits
Answer:
Clustering techniques try to find similar patterns within sets of data.
Answer:
A(n) _____ is a special kind of warehouse designed to speed the flow of goods and
avoid unnecessary storing costs.
A. gateway for inventory
B. RFID warehouse
C. UPC storage facility
D. distribution center
E. shopping mall
Answer:
Concept testing:
A. takes place during the screening step of the new-product development process.
B. involves usage tests by potential customers.
C. seeks potential customers' reactions and attitudes toward new product ideas-before
actual models are developed.
D. is the last step before commercialization of a new product idea.
E. None of these alternatives is correct.
Answer:
A(n) _____ is a blend of manufacturers' agent and selling agent-handling the entire
export function for several producers of similar but noncompeting lines.
A. import broker
B. auction company
C. export broker
D. combination export manager
E. export or import agent
Answer:
Homogeneous shopping products:
A. need widespread distribution near probable points of sale.
B. need enough exposure to facilitate price comparison.
C. need widespread distribution with assurance of preferred display.
D. need widespread distribution at low cost.
E. None of these alternatives is correct.
Answer:
The most difficult and important step in the scientific approach to marketing research
is:
A. defining the problem.
B. interpreting the data.
C. solving the problem.
D. analyzing the situation.
E. getting problem-specific data.
Answer:
Use this information for question that refer to the Yummy Ice Cream case.
Kelly Stich, marketing manager for Yummy Ice Cream Products, is thinking about some
of her products and her promotion plans for the coming year.
Yummy Ice Cream Products is introducing a new ice cream treat called PlanetSavers.
This treat uses ice cream produced with environmentally friendly processes that save
energy and protect the ozone. Yummy plans to send articles to magazines, local
newspapers, and environmental groups that explain the environmentally safer treat. The
product also has a unique texture and different flavor.
Stich wants to use counter cards and in-store signs to let people know about Cherry
Walrus, the company's new flavor. She is also developing sales training materials that
will teach ice cream scoopers in Yummy's ice cream stores to promote the product.
Right after Cherry Walrus is introduced each store will also hand out coupons that are
good for one day only.
Yummy Mondaes is a product that has been around for 25 years. It is Yummy's take on
the classic ice cream sundae, but white-brownie and coffee-flavored crumbles are added
to make it extra special. The company sells this product in one and two quart containers
through major grocery store chains. It relies on personal selling and price discounts to
retailers to move more of the product. The company does very little consumer
promotion for this product.
Yummy Fudge on a Stick is a new product of fudge-flavored ice cream on a stick.
Yummy plans to sell it through retail grocery stores and is launching an aggressive
advertising program that will use television, radio, newspaper, magazines, and the
Internet. Most of its promotion will be directed at consumers.
Two years ago, the company introduced Yummy Fruit on a Stick, an all-natural frozen
fruit product on a stick. The product category has been popular, continues to grow, and
is in the market growth stage of the product life cycle.
Which of the following AIDA promotion objectives is best achieved by coupons for
Cherry Walrus?
A. attention
B. interest
C. desire
D. action
Answer:
The economic environment
A. of an individual country has little effect on other countries.
B. refers to the application of science to convert resources to output.
C. includes changes in interest rates and inflation.
D. has little impact on an organization's marketing strategy.
E. does not change rapidly.
Answer:
The five-step marketing research process ends at which step?
A. Defining the problem
B. Analyzing the situation
C. Getting problem-specific data
D. Interpreting the data
E. Any step at which the problem is solved
Answer:
All of the following are regrouping activities EXCEPT
A. accumulating.
B. bulk-breaking.
C. sorting.
D. assorting.
E. channeling.
Answer:
Use this information for question that refer to the "Salespeople" case.
Wilson Alvaro graduated with a marketing degree almost a year ago. Like many of his
friends, he took a job in sales and really enjoys it. A description of Wilson's job and
those of some of his friends are noted below.
Wilson Alvaro loves biking and has his dream job. He works for a wholesale company
that sells mountain bikes for a manufacturer. He works with a small group of people
who call on the buying offices for two large retail chains, Wal-Mart and Toys R Us. The
group includes a finance person and a production person, and they all work together to
meet the specific needs of these two big accounts; for example, sometimes they
recommend a model of bike that will be available from only that retailer's stores.
However, Wilson's main job focuses on building relationships and solving customer
problems. Only occasionally is he expected to try to persuade the retailers to buy more
bikes.
Amy Bowden sells life insurance. She calls on new parents and persuades them to buy
insurance products. It is difficult for a manager to control Amy's work, but she has
incentive to work hard because her job security and income depend on getting sales.
She is a confident self-starter, so she likes it that way.
Ben Peterson works for a fashionable men's clothing store. He enjoys spending time
with customers who come in, learning about their fashion needs, and helping them pick
clothes that really work for them. While the store manager can easily observe and direct
Ben's activities, the manager wants Ben to have the incentive to increase customer
purchases and satisfaction.
Emily Winters handles inside sales for a major industrial distributor. She deals with a
regular set of established customers, most of whom know what they want. Emily talks
to them on the phone and answers questions about products, delivery time, and pricing.
She sometimes works with outside sales reps who visit customers and help introduce
new products. Emily is the first person her customers call when there's a problem with a
purchase, so she spends a lot of time dealing with customer problems. As an inside
salesperson, Emily's work is easily supervised by a sales manager - and she has little
influence on how much her customers buy.
Melissa Tran works for a company that sells paper products (like napkins, paper towels,
and paper plates) primarily through small independent grocers. Most of the grocers are
regular customers, but sometimes she makes cold calls to new grocery stores. Melissa's
job is to develop goodwill and try to increase sales. For example, she often sets up
special promotional displays in stores. Her compensation plan gives her income
security, but she also can receive a bonus for sales growth in her territory.
Charlie Riggs is a telemarketer for an Internet service provider. He calls people on a list
provided by his firm and tries to sign them up for Internet service. Charlie relies heavily
on a presentation he learned during his training. Charlie is very good at what he does
and loves that the more success he has the more he earns.
Which salesperson does the most customer service?
A. Charlie Riggs
B. Melissa Tran
C. Emily Winters
D. Ben Peterson
E. Amy Bowden
Answer:
Routinized response behavior probably would be used by many consumers in the
purchase of:
A. soap.
B. canned fruit.
C. salt.
D. milk.
E. all of these are correct.
Answer:
About what percentage of the cost of hospital supplies in the U.S. are a result of
logistics?
A. 15 percent
B. 20 percent
C. 25 percent
D. 33 percent
E. 40 percent
Answer:
The "physical distribution concept" is probably being used in a firm if:
A. inventories are set based on just-in-time delivery policies.
B. the total cost of distribution is as low as possible.
C. storing costs have been minimized.
D. transporting, storing, and product-handling are seen as interrelated parts of one PD
system.
E. transporting costs have been minimized.
Answer:
Total fixed cost
A. is dependent on production volumes.
B. stays the same even if production stops temporarily.
C. includes wages and sales commissions.
D. is the sum of average fixed costs and variable overheads.
E. is dependent on minor changes in output volume.
Answer:
A product-market is one
A. in which exchanges are based on barter rather than money.
B. where one seller has a patent for a superior product and other firms try to imitate the
leader the best they can.
C. where all of the customers want the same product but will consider a substitute if
their preferred brand is not available.
D. in which competing sellers offer physically or conceptually similar products.
E. in which no intermediaries operate.
Answer:
Price lining:
A. is quite similar to prestige pricing.
B. can simplify both buying and selling.
C. tends to reduce turnover rates.
D. results in larger inventories.
E. All of these alternatives are correct.
Answer:
Which of the following pricing objectives is a producer seeking when the producer tries
to obtain some percent return on his investment?
A. Status quo
B. Meeting competition
C. Profit maximization
D. Target return
E. Growth in market share
Answer:
When a marketing manager has phone conversations with key wholesalers of the firm's
products to try to obtain information about why the firm's product sales are down, this
is an example of a(n):
A. hypothesis testing.
B. situation analysis.
C. data warehouse.
D. intranet.
E. experiment.
Answer:
For homogeneous shopping goods, marketers favor low-cost retailers primarily
because:
A. customers focus on low prices.
B. customers focus on low quality.
C. customers focus on broad product assortments.
D. low-cost retailers provide extensive customer support.
E. low-cost retailers have many outlets close to customers.
Answer:
